How To Apply

The No Obligation way to get a home loan through the Homeloan Guru

Option one, online:

Simply complete our enquiry form. You will notice that the form accepts anything you want to put on it, it will not be interpreted by a computer but by a person. Based on the information you give us on this form, we will research all your options with the major lenders in the Australian market. We will present you with three options to choose from. We give you all the information you require to make an informed decision, comparing the total cost to borrow including all the fees and charges that come with each product. We will only provide you with options you actually qualify for based on your information against the lender’s policies.

Option two, person to person:

First we have to gather as much information about you as possible. This is done either in a face to face meeting, or in an informal phone conversation. We will ask you in much detail how you would like us to assist you, what you are looking to achieve and what type of loan you are after. As you are probably not an expert in the area, we will give you as much guidance and advice as possible for you to make the right choice and even help you ask the right questions.

Based on the information you give us on this form, we will research all your options with the major lenders in the Australian market. We will present you with three options to chose from. We give you all the information you require to make an informed decision, comparing the total cost to borrow including all the fees and charges that come with each product. We will only provide you with options you actually qualify for based on your information against the lender’s policies.

If you decide that you like what we have come up with, we proceed to formally apply for a loan to the lender of your choice. The first step is for us to verify all the information that you have provided us so far by asking for documentation such as pay slips, loan statements of existing loans, rates notices etc. to make sure that your loan application will get approved by the lender of your choice. If you cannot provide us with the necessary documentation, we may often be able to come up with an alternative to achieve the same result.

We then submit formal loan application that you signed together with your supporting documentation to the lender. We are accredited to do this online with most lenders and get a conditional approval the same day in most instances. This means that the lender has checked your credit file as well as approved of the loan scenario presented.

The only thing between you and the formal loan approval at this stage is for the bank to go through the documentation to make sure what was submitted online corresponds with the paperwork. The other item outstanding now is a formal valuation by a valuer approved by the lender. We or the lender will normally instruct a valuer at this stage.

Two to three days later, the valuation will be available and the lender, having done all the other checks, will issue an unconditional approval.

A further couple of days later, we will receive the loan offer documents and we will contact you to make a time to go through them and for you to sign them.

Once the loan offer documents are properly signed and returned to the lender, the lender will get ready to settle on the loan. In the case of a refinance, this will normally take at least 10 days and depends to some degree on the outgoing lender. For a purchase, the funds will be available to settle on the purchase, normally six weeks from exchange of contract.